Three Months Ended

Six Months Ended

April 30,

(In thousands, except per share data)

2022

2021

2022

2021

Numerator:

Net earnings attributable to Hovnanian

$

59,766

$

488,676

$

81,905

$

507,635

Less: undistributed earnings allocated to nonvested shares

(5,426

)

(44,383

)

(7,621

)

(46,147

)

Numerator for basic earnings per share

$

54,340

$

444,293

$

74,284

$

461,488

Plus: undistributed earnings allocated to nonvested shares

5,426

44,383

7,621

46,147

Less: undistributed earnings reallocated to nonvested shares

(5,427

)

(45,170

)

(7,625

)

(47,338

)

Numerator for diluted earnings per share

$

54,339

$

443,506

$

74,280

$

460,297

Denominator:

Denominator for basic earnings per share – weighted average shares outstanding

6,396

6,248

6,392

6,236

Effect of dilutive securities:

Share based payments

81

120

100

95

Denominator for diluted earnings per share – weighted average shares outstanding

6,477

6,368

6,492

6,331

Basic earnings per share

$

8.50

$

71.11

$

11.62

$

74.00

Diluted earnings per share

$

8.39

$

69.65

$

11.44

$

72.71